Pseudonymous Shiba Inu (SHIB) developer Shytoshi Kusama is dropping a big update on the progress of the highly anticipated layer-2 project Shibarium.
In a new Twitter bio update, Shytoshi Kusama reveals that ShibaSwap is the only official decentralized exchange (DEX) for the Shiba Inu and Shibarium ecosystem.
“Top Shib community member. Not financial advice, do your own research, but… *whispers* SHIBASWAP is the official DEX of Shibarium. You probably already knew that because you’re one smart pup.”
According to the project’s whitepaper, ShibaSwap aims to provide a safe place for traders to trade their crypto assets in a decentralized environment. ShibaSwap also allows holders of SHIB, Bone (BONE) and Doge Killer (LEASH) to stake their coins or provide liquidity to the DEX to earn rewards.
Meanwhile, Shibarium is the layer-2 protocol built on top of the Ethereum (ETH) network, similar to Polygon (MATIC).
Last week, Shytoshi Kusama told his 896,000 Twitter followers that the team is playing a song on repeat while they work on completing the finishing touches for Shibarium.
Also last week, the Shiba Inu ecosystem launched the Join Shibarium portal, which allows anyone interested in Shibarium to apply and get in touch. The portal has already received thousands of responses, according to Shytoshi Kusama.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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